Evolve Private Wealth LLC Invests $534,000 in FirstCash Holdings, Inc. $FCFS

Evolve Private Wealth LLC acquired a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,470 shares of the company’s stock, valued at approximately $534,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in FirstCash during the second quarter worth about $1,088,429,000. Price T Rowe Associates Inc. MD raised its holdings in FirstCash by 36.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company’s stock valued at $186,361,000 after acquiring an additional 312,132 shares in the last quarter. Geode Capital Management LLC raised its holdings in FirstCash by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 1,043,699 shares of the company’s stock valued at $166,367,000 after acquiring an additional 31,550 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of FirstCash by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,009,170 shares of the company’s stock worth $160,850,000 after acquiring an additional 5,626 shares during the period. Finally, Sei Investments Co. lifted its position in shares of FirstCash by 2.2% in the 1st quarter. Sei Investments Co. now owns 794,005 shares of the company’s stock worth $149,273,000 after acquiring an additional 17,177 shares during the period. Institutional investors own 80.30% of the company’s stock.

Insider Activity

In related news, COO Thomas Brent Stuart sold 5,348 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the sale, the chief operating officer directly owned 135,498 shares in the company, valued at $29,081,935.74. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $225.23, for a total value of $1,539,447.05. Following the sale, the senior vice president directly owned 20,400 shares of the company’s stock, valued at $4,594,692. This represents a 25.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 20,348 shares of company stock worth $4,492,755. Corporate insiders own 2.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FCFS. TD Cowen boosted their price objective on FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings cut FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target on the stock in a research note on Monday, August 10th. Zacks Research downgraded shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $249.00.

FirstCash Stock Up 4.9%

FCFS opened at $236.43 on Tuesday. The firm’s 50-day simple moving average is $214.33 and its 200-day simple moving average is $207.62. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89. FirstCash Holdings, Inc. has a twelve month low of $144.40 and a twelve month high of $238.38. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 26.99 and a beta of 0.53.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.11. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. During the same period last year, the firm posted $1.34 EPS. Equities research analysts anticipate that FirstCash Holdings, Inc. will post 11.85 EPS for the current fiscal year.

FirstCash Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.68 annualized dividend and a dividend yield of 0.7%. FirstCash’s dividend payout ratio (DPR) is presently 19.18%.

FirstCash Company Profile

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.